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Indiabulls Greens by Indiabulls in Panvel, Mumbai

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Indiabulls Greens by Indiabulls in Panvel, Mumbai

Last updated: July 7 2017
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  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

    Megacity Project

    Has anybody any update on the megacity project in panvel. It was announced in Mar 2010 that one Gulf company would be investing almost $ 10 Billion for development. But there has been no news since then.

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    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

      In China, Hangzhou Bay Bridge was built between November 2003 to June 2007 (4 years) a bridge that links Haiyan, Jiaxing City to Cixi, Ningbo City in Zhejiang Province (36 kms) A Google search will give you all the details. With a proactive Government it is absolutely possible to build a 22km bridge in 4 - 6 years!

      In Mumbai, I have seen prices become 4 times their purchase cost in the last 8 -9 years. If you have purchased a flat in 2003 - 2004, you would surely know this. So the day dreaming/ optimism of a 15,000 psf in Panvel is in place

      Once can cover more than 60km in less than an hour on highways. I do Bandra Worli daily in 4 mins. So am sure 45 mins to 1 hour is easy once we have the link in place.

      Do also note - Indiabulls rate was 2,200/- psf when I invested here (Nov 2009) hardly 2 years have passed in a bad world economy yet the price is more than double today as we speak! Foresight and Long Term horizon is the key in real estate investments.

      I am not in manufacturing etc but I speak from my experience in real estate - Indiabulls being my fourth flat in Mumbai
      Last edited by vaibhavtiwari; January 2 2012, 02:56 PM.

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      • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

        Pro-active? Even if Govt is hellbent it cant make 22 km bridge in 6 yrs starting say 2014. Secondly irespectv of it, factors that led to four fold increase in RE prices, specially IT and outsourcing, are only on negative side henceforth for India. Where does the money come from to pay for 15000 psf prices? Domestic economy alone will nevr gv such price. Anyways goodluck to you for your investment.

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        • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

          Originally posted by vaibhavtiwari View Post
          In China, Hangzhou Bay Bridge was built between November 2003 to June 2007 (4 years) a bridge that links Haiyan, Jiaxing City to Cixi, Ningbo City in Zhejiang Province (36 kms) A Google search will give you all the details. With a proactive Government it is absolutely possible to build a 22km bridge in 4 - 6 years!
          We are talking about India & how things work here. Why compare with Chinese, everyone knows their track record in completing Infra projects.

          Originally posted by vaibhavtiwari View Post
          In Mumbai, I have seen prices become 4 times their purchase cost in the last 8 -9 years. If you have purchased a flat in 2003 - 2004, you would surely know this. So the day dreaming/ optimism of a 15,000 psf in Panvel is in place
          Just b'coz there was 100% growth in past 7-8 yrs, that in itself does not justify the highly optimistic figure of more than 200% growth in coming 7-8 yrs.

          Originally posted by vaibhavtiwari View Post
          Once can cover more than 60km in less than an hour on highways. I do Bandra Worli daily in 4 mins. So am sure 45 mins to 1 hour is easy once we have the link in place.
          Highly Debatable, as we are talking about proposed Trans Harbour link.

          Originally posted by vaibhavtiwari View Post
          Do also note - Indiabulls rate was 2,200/- psf when I invested here (Nov 2009) hardly 2 years have passed in a bad world economy yet the price is more than double today as we speak! Foresight and Long Term horizon is the key in real estate investments.

          I am not in manufacturing etc but I speak from my experience in real estate - Indiabulls being my fourth flat in Mumbai
          bad world conditions, since when? The last bull run started from middle of 2009 (after Lok sabha election result) and only just its starting to dawn that all that easy money policy of India and world over is unravelling.

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          • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

            Ulwe

            From the sea link standpoint Ulwe appears to be a better destination than panvel as it is much near to the proposed briged. Also is it near Nerul and with the proposed railway line from Sea woods, it appears to be attractive area

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            • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

              Ready reckoner property rates go up by 30%

              Watch out the following news... I hope, it will not have any impact on customers of Indiabulls Greens (Panvel). I guess the ready reckoner rate in the Greens area is lower than the psf rate offered by the builder.


              TNN | Jan 1, 2011, 04.52AM IST MUMBAI: Throwing a wet blanket on the soaring holiday spirits and the hopes of many Mumbaikars, the Maharashtra government has increased the ready reckoner rates (RR) for real estate by an average of 25-30%.

              The ready reckoner is mostly used to work out the market value of flats for the purpose of calculating stamp duty and registration charges. While the average hike is 25-30%, the RR rate for some prime areas in Worli, Dadar, Chembur, Parel, Ghatkopar, Kanjurmarg, Andheri, JVPD have been increased by 30% to 40%.

              Realty experts say the new rates, effective from January 1, may not affect the sales of new flats, which in any case exceed the ready reckoner by 50% to 100%. But the rates will hurt the sale and purchase of old flats because of the 36% rise in the cost of construction under the new calculus. Rajesh Mehta, director of Raha Realtors, said the increase in the construction cost "from Rs 1,022 per sq ft to Rs 1,395 per sq ft" would deal a major blow to redevelopment schemes.
              "In these projects, the developers will now base their profitability on the amount they have to spend on the construction," he said.

              Also, Mehta said, "In cases of resale of old apartments, the RR value will be marginally higher than the agreement value. Due to this, the burden of the additional stamp duty will have to be borne by the buyer of the old flat. Besides, there will be an impact on the capital gains tax calculations under section 50 (c) of the Income Tax Act for the developer."

              The RR rate was increased nominally every year until 2005. Things began to really change in 2007 when the state hiked the calculus by 36-45%. The rates remained there till 2009. This year, however, the government decided to make a major change after witnessing the real estate market's astronomical growth.

              This year, the government, incidentally, has based its new RR calculus on built-up area, a deviation from its earlier diktat to base transactions on carpet area.

              Furthermore, it has raised the land cost of Finlay Mills, the defunct National Textile Corporation mill, from Rs 3,100 per sq ft to Rs 8,000 per sq ft-a 155% hike. Two years ago, Lodha Group had quoted Rs 750 crore for the 10.3-acre land. The mill is currently caught in a battle between Lodha Group and Indiabulls, which has offered to pay Rs 1,000 crore for the land.

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              • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                Latest Update as of 6th Jan 2012

                Latest update - Construction status.
                In one of the tower, sales office work in progress on first floor.
                Construction work seems to be good.

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                • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                  Attached Photo

                  Attached Photo as of 6th Jan 2012.
                  Attached Files

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                  • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                    Originally posted by Ravish Singh View Post
                    Latest update - Construction status.
                    In one of the tower, sales office work in progress on first floor.
                    Construction work seems to be good.
                    Thank you for the update. Any idea about the readiness of the sample flat ?

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                    • Re : Indiabulls Greens by Indiabulls in Panvel, Mumbai

                      Originally posted by GreenWorld View Post
                      Thank you for the update. Any idea about the readiness of the sample flat ?
                      I have been told that sample flat for 15B is not ready

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